PARAGON TECHNOLOGIES’
SI SYSTEMS BRAND RECEIVES ORDERS TOTALING APPROXIMATELY $400,000 FROM
A MAJOR MANUFACTURER OF SPECIALTY PACKAGING PRODUCTS
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EASTON, PA — June
16, 2004 -- Paragon Technologies, Inc. (AMEX:PTG), a leading supplier
of “smart” material handling solutions, including systems, technologies,
products and services, announced today that its SI Systems brand received
orders totaling approximately $400,000 to provide towline systems for
a major manufacturer of specialty packaging products at three of their
facilities. Terms of the contracts were not disclosed.
The material handling
systems will be installed in facilities in New York, Texas, and California,
and will incorporate SI Systems’ market leading in-floor towline technology.
Len Yurkovic, President
and CEO of Paragon Technologies, states, “Our customer is expanding,
updating, and reconfiguring their existing systems to handle the increased
volume of product being transported between their manufacturing plants
and adjacent warehousing/distribution facilities. We are pleased that
our solution is able to efficiently handle their expanding capacity.”
Similar towline-based system solutions have been installed at assembly
plants, bulk mail processing centers, military distribution centers,
and at large retail chain warehouse locations throughout North America.
About Paragon Technologies
Paragon Technologies is a
leader in integrating material handling systems and creating automated
solutions for material flow applications. Ermanco’s branded conveyor
technologies and material handling solutions address the needs of the
distribution, assembly, and manufacturing marketplace. SI Systems’ branded
technologies and material handling solutions address unit assembly handling and
order fulfillment applications. One of the top material handling systems
suppliers worldwide, Paragon’s leading clients have included the United States
Postal Service, General Motors, IBM, BMG, DaimlerChrysler, Ford, Peterbilt,
Harley-Davidson, Walgreens, and Clark Equipment.
Cautionary Statement. Certain
statements contained herein are not based on historical fact and are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995 and the Securities and Exchange Commission rules, regulations and
releases. Paragon intends that such forward-looking statements be subject to the
safe harbors created hereby. Among other things, the forward-looking statements
regard Paragon's earnings, liquidity, financial condition, and certain operational
matters. Words or phrases denoting the anticipated results of future events, such
as "anticipate," "does not anticipate," "should help
to," "believe," "estimate," "is positioned,"
"expects," "may," "will," "is expected,"
"should," "continue," and similar expressions that denote
uncertainty, are intended to identify such forward-looking statements. Paragon's
actual results, performance, or achievements could differ materially from the
results expressed in, or implied by, such "forward-looking statements:"
(1) as a result of risks and uncertainties associated with Paragon's restructuring,
including the failure to achieve anticipated operating savings, and the possibility
that the restructuring charges will be greater than anticipated; (2) as a result
of factors over which Paragon has no control, including the strength of domestic
and foreign economies, sales growth, competition, and certain cost increases;
or (3) if the factors on which Paragon's conclusions are based do not conform
to its expectations.
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